May Home Prices Rise Less Than Expected

U.S. single-family home prices rose less than expected on an annual basis in May, and were down from the prior month, a survey showed on Tuesday.

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The S&P CoreLogic Case-Shiller composite index of 20 metropolitan areas rose 5.2 percent in May on a year-over-year basis, retreating from the 5.4 percent climb in the prior month and short of the estimate for a 5.5 percent increase from a Reuters poll of economists.

"Overall, housing is doing quite well," said David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices.